Quantbot Technologies LP Invests $50,000 in SmartRent, Inc. (NYSE:SMRT)

Quantbot Technologies LP acquired a new position in shares of SmartRent, Inc. (NYSE:SMRT) in the fourth quarter, Holdings Channel reports. The firm acquired 28,497 shares of the company’s stock, valued at approximately $50,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Jane Street Group LLC raised its position in shares of SmartRent by 21.9% in the 3rd quarter. Jane Street Group LLC now owns 310,672 shares of the company’s stock valued at $537,000 after purchasing an additional 55,809 shares during the last quarter. Barclays PLC increased its holdings in SmartRent by 317.1% in the 3rd quarter. Barclays PLC now owns 292,017 shares of the company’s stock worth $504,000 after buying an additional 221,998 shares during the period. JPMorgan Chase & Co. raised its position in SmartRent by 250.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 288,176 shares of the company’s stock worth $499,000 after buying an additional 205,843 shares during the last quarter. State Street Corp boosted its holdings in SmartRent by 0.4% in the third quarter. State Street Corp now owns 4,206,322 shares of the company’s stock valued at $7,277,000 after purchasing an additional 15,642 shares during the last quarter. Finally, Royce & Associates LP grew its position in SmartRent by 64.2% during the 4th quarter. Royce & Associates LP now owns 1,283,325 shares of the company’s stock worth $2,246,000 after purchasing an additional 501,890 shares during the period. Hedge funds and other institutional investors own 59.42% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods decreased their price target on SmartRent from $2.00 to $1.60 and set a “market perform” rating for the company in a report on Thursday, March 6th. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, SmartRent presently has a consensus rating of “Hold” and an average target price of $2.40.

SmartRent Stock Down 4.5 %

SMRT stock opened at $1.16 on Wednesday. The stock has a market capitalization of $222.57 million, a P/E ratio of -8.88 and a beta of 1.92. SmartRent, Inc. has a 52 week low of $1.07 and a 52 week high of $2.98. The firm has a 50-day simple moving average of $1.33 and a 200-day simple moving average of $1.56.

SmartRent (NYSE:SMRT) last posted its quarterly earnings results on Wednesday, March 5th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.04). The business had revenue of $35.37 million during the quarter, compared to analysts’ expectations of $37.78 million. SmartRent had a negative return on equity of 6.08% and a negative net margin of 12.77%. The business’s quarterly revenue was down 41.3% on a year-over-year basis. During the same period in the prior year, the business posted ($0.02) earnings per share. On average, analysts expect that SmartRent, Inc. will post -0.14 earnings per share for the current year.

Insider Buying and Selling at SmartRent

In related news, Director John C. Dorman purchased 125,000 shares of SmartRent stock in a transaction dated Monday, March 10th. The shares were acquired at an average price of $1.20 per share, for a total transaction of $150,000.00. Following the acquisition, the director now directly owns 229,965 shares in the company, valued at approximately $275,958. The trade was a 119.09 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael Shane Paladin acquired 43,859 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The stock was purchased at an average cost of $1.14 per share, with a total value of $49,999.26. Following the acquisition, the chief executive officer now directly owns 43,859 shares of the company’s stock, valued at $49,999.26. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. 9.00% of the stock is owned by insiders.

SmartRent Profile

SmartRent, Inc, an enterprise software company, provides an integrated smart home operating system to residential property owners and operators, homebuilders, institutional home buyers, developers, and residents in the United States. The company’s products and solutions include smart apartments and homes, access control for buildings, common areas, and rental units, asset protection and monitoring, parking management, self-guided tours, and community and resident Wi-Fi.